Incentives Business Illinois II: State of Section Incentives Business I: Federal Section Loan Programs T Programs Assistance & Technical Resources Bond Programs Loan Programs Tax Incentive Programs ax Incentive Programs SBA Micro Loan Manufac Internat Illinois Development Hospital Export SBA Exp Enterpris Employ Illinois Corpo Development Express Community Servi Community CAPLines Dev Banking 7(a) 504 Loan Program Illinois High Develo Economic U.S. Smal U.S. Pat IRS Zon Qualified Enterp Sec Work Opportunity Renewal Income Partial Gross Tax Cr New Market 179 Deduction Increased Empowerme Tax Disabled Access tion 108 Loan Guarantees 108 Loan tion Small Business Division Small Business Loan Guaranty Impact Business Program Business Impact
rise Zone F Zone rise Capital Access Program Access Capital Zone Program Enterprise Working Capital Program Working Capital ent and Trademark Office ent Trademark and i ress Community Tax Incentives Community turing Moderniza turing onal Trade Loan Program Trade onal
e Administration l Business
Table of Contents Zone Participation Loan Participation Zone
elopmen nt Zone Employment Credit nt Employment Zone e Academy e
pment for A Growing Economy A Growing for pment c
acility Bonds acility e Block Grant Loan Grant Program Block e Tax Credits Tax Credits
edits
r
ation Participation Loan Participation ation Exclus t Program
Bonds
tion Loan tion
ions of Capital Gains Capital of ions
p. 5 p. 5 p. 5 p. 5 p. 5 p. 5 p. 5 p. 4 p. 4 p. 4 p. 4 p. 4 p. 4 p. 4 p. 3 p. 3 p. 3 p. 3 p. 3 p. 2 p. 2 p. 2 p. 2 p. 2 p. 2 p. 2 p. 2 p. 1 p. 1 p. 1 p. 1 p. 1
Programs Business County III: Cook Section Tax Incentive Progr Programs Assistance & Technical Resources Grant Programs TIF Programs Bond Programs Class 6(b) Energy $mart Small Business Small Busi Service Fuel Renewable Tec Procurement Minority, Women, of Illinois Partnership Extension Manufacturing Manufacturing L Indus Illinois Small Business Illinois Center and Data Industry Illinois Business First Centers Entrepreneurship E 8(a) Busi Expansio Recycling Large Bus andJob Training Illinois High Technol Employer Tr Deve Community Pu Development Business AgriFIRST T Securi Rural Micro Pr Credit of Revolving Line Port Par Patriot Express P Opportunity Illinois Mi abor Mar Financing ax Increment requlification Program requlification n nority, and Women, trepreneurship Network trepreneurship t icipation Loan Program Loan icipation - Distri Stop Business Information Center Information Business Stop Demonstration Program Demonstration Program trial Services t Capital Access Program Access Capital y Bond Guaranty Program Guaranty y Bond - Recycling Recycling
Disabled Vete Disabled ness Development Program Development ness
i
-
ket Information ket Loan ct Revolving ness Development Centers Development ness Program Development ness Industrial Development Industrial
- a B o ining Investment Program Investment ining ams u gy School
Energy Efficiency Program Efficiency Energy siness Participation Loan Participation siness s Resear
l hnical Assistance Centers Assistance hnical
Economic Development Gra Development Economic Grants Program Grants opment Assistance Program Assistance opment
& Small Business Advocacy & Small Business n
and Modernization Program and Modernization ran 1 En D
- ch, Development, & Development, ch,
isabled Participation Loan isabled Participation To
- blic In vironmental Assistance Assistance vironmental Owned Small Businesses Owned Small
ogram
-
Work Program Work
frastructure frastructure
nt
p. 12 p. 12 p. 12 p. 12 p. 11 p. 11 p. 11 p. 11 p. 11 p. 10 p. 10 p. 10 p. 10 p. 10 p p. 9 p. 9 p. 9 p. p. p. 8 p. 8 p. 8 p. 8 p. 7 p. 7 p. 7 p. 7 p. 7 p. 7 p. 6 p. 6 p. 6 p. 6 p. 6 p. 6 . 10 9 9
Programs Business of Chicago IV: City Section Programs Assistance & Technical Resources Bond Programs TIF Programs Loan Programs Tax Incentive Programs Grant Programs Bond Programs Loan Programs Templates Opportunity Small Business Small Bu SCORE Permits and Licenses The Insti of Department Econom Community Urba Chicago Enterp Chicago City of 501(c) (3) TIF Program Streamlined T Small B Labo Small Bu Micro Loan Deposi Linked Program Deposit Linked Float Loan B Special S Commercial Chicago City of Grants Infrastructure In Fund Loan Business Zone Enterprise County Cook Class 8 7b 7a and Class C Class an Participa dustrial Revenue Bonds Revenue dustrial ratory Faciliti Delegate Agency Delegate rise Zone Facilit Zone rise
– – usiness Impr usiness
Industrial tute for Justice Clini Justice for tute ervice Area Designation Area ervice Environment siness Law Center siness Loan Development siness
Revitalization Deduction Revitalization
n Lea tion Loan tion ax Inc t Program Program t Planning & Development Development Planning & Industrial Revenue Bonds Revenue Industrial Program Zone Enterprise
– Commercial Development Commercial
es Fund es gue’s Project NEXT gue’s Project or Commercial Development or Commercial
rement Financing rement ic Development Law Project Law Development ic ovement Fund ovement
al Cleanup and Development and al Cleanup 2 y Bond y
– –
Contractors Contractors Sm
Clinic
c Program all Bu
siness siness
p. 18 p. 18 p. 17 p. 17 p p. 17 p. 17 p. 17 p. 16 p. 16 p. 16 p. 16 p. 16 p. 16 p. 16 p. 15 p. 15 p. 15 p. 15 p. 15 p. 15 p. 14 p. 14 p. 14 p. 14 p. 13 p. 13 p. 13 p. 13 p. 13 p. 13 p. 13 . 17
Incentives Business Authority Finance VI: Illinois Section Tax Credits V: Business Section
501(c)( 501(c)(3) E Capital Opportunity IFA Pa IFA Senior Work Opportunity Se Pla Pension Tax Credit New Markets Cred Investment Tax Received Interest Ri Enterprise, Z Empowerment Education Activitie Production Domestic D for Emplo Credit Cost Segregatio Employmen Community Revitalization Commercial St Business Manufac isabled Access Credit isabled Access ction 179 Depreciation ction Industrial Revenue Bond Revenue Industrial Obligations Credit Taxes Medicare 3) Bond Program turer’s Purchase Credit Purchase turer’s Loan Repayment Deduction Repayment Loan quipment Finance Program Finance quipment art Up Cost Amortization Up Cost art
n Start Up Costs Credit Costs Up n Start
rticipation Loan Program Loan rticipation ver Edge Development Zone Development ver Edge n Depreciation Adjustment n Depreciation one and Renewal Community and Renewal one yer Social Security and and Security Social yer
on Federally Tax Exempt Tax Exempt Federally on Tax C
Bond it it
– 3
Contribution t Corporation redit Business Energy Tax Credit Energy Business
De
duction s D s
eduction
p. 21 p. 21 p. 21 p. 21 p. 21 p. 21 p. 20 p. 20 p. 20 p. 20 p. p. 19 p. 19 p. 19 p. 19 p p. 19 p. 18 p. 18 p. 18 p. 18 p. . 19 20 18
Loan Tax Incentive Programs State of Programs Assistance Technical & Resources Programs Bond P Loan Programs Incentive Tax Incentives Business Federal Partial Gross Income Exclusion of Capital Gains Capital of Exclusion Partial Income Gross Community Service Block Grant Program Community Service Block Development Participation Corporation Programs Economic a Growing Development for rograms International Trade Loan Program Credit Employment Zone Empowerment Work Opportunity Tax Credits (WOTC) Tax Opportunity Work Illinois Business Incentives Business Illinois Enterprise Zone Participation Loan
Business Incentives Business Export Working Capital Program Export Working Illinois Enterprise Zone Program Renewal Community Tax Incentives Community Renewal Business Incentive Expo Resource Guide U.S. Small Business Administration Business U.S. Small Banking Development Program High Impact High Business Program Illinois Capital Access Program U.S. Patent and Trademark Offic and Trademark U.S. Patent
Qualified Zone Academy Bonds Academy Qualified Zone
Enterprise Bonds Zone Facility
Section 108 Loan Guarantees 108 Section IRS Small Business Division SmallIRS Business Disabled Access Tax Credit Hospital Development Hospital Increased 179 Deduction New Markets Tax Credit New Markets Community Express
7(a) Loan Guaranty 504 Loan Program
Employ Illinois SBA Express
Incentives Matrix CAPLines Economy Loan
e
Page 4 4 4 4 4 4 4 3 3 3 3 3 2 2 2 2 2 2 2 2 5 5 5 5 5 1 1 1 1 1
Commercial Business Small X X X X X X X X X X X X X X X X
Commercial Medium Business Large X X X X X X X X X X X X X X X X X X X X X
-
Industrial Business X X X X X X X X X X X X X X X X X X
Programs Technical Assistance Resources & Grant Programs TIF Programs Programs Bond Business Development Public Infrastructure Renewable Fuels Research, Development, & High Technology School High Procurement Technical Assistance Centers Illinois Business and Industry Data Center Manufacturin Job Training and Economic Development Rural Micro Manufacturing Extension Partnership of Recycling Expansion and Modernization Employer Training Investment Program First Service Illinois Small Business Environmental Large Business Development Community Development Assistance 8(a) Business Development Program Minority, Women, & SmallMinority, Women, Business Manufacturing Modernization Loan - Stop Business Informatio Illinois Recycling Grants Program
Revolving Line of Cre Security Bond Guaranty Program - Minority, Women, and DisabledMinority, Women, Disabled Veteran Illinois Capital Access Program
- g Energy Efficiency Program Port District Revolving Loan Industrial Services Program Business Participation Loan Participation Loan Program Entrepreneurship Network
Labor Market Information Labor
Entrepreneurship Centers Prequ Tax Increment Financing Demonstration P Opportunity Illinois a - Participation Loan To lification Program SBA Micro Loan SBA Micro - Patriot Express Work Program Work AgriFIRST - Owned Small dit Program Assistance Advocacy Program Program Program n Center rogram Illinois Grant
10 10 10 10 10 10 11 11 11 11 8 8 8 8 8 8 9 9 9 9 9 9 6 6 6 6 6 6 7 7 7 7 7 7 5 5
X X X X X X X X X X X X X X X X X X X X X X X
X X X X X X X X X X X X X X X X X X X X X X X X
X X X X X X X X X X X X X X X X X X X
Programs Technical Assistance Resources & Programs Bond TIF Programs Loan Programs Tax Incentive Programs Incentives Business Chicago City of Grant Programs Programs Bond Loan Programs Tax Incentive Programs Incentives Business County Cook Class 7a and 7b Linked Deposit Program City of Chicago Industrial Revenue Bonds City of Community Economic Development Law DevelopmentCommunity Law Economic Chicago Enterprise Zone Program City of Department of Planning & Development Linked Deposit Program Cook County Enterprise Zone Program County Cook Chicago Urban League’s Project NEXT Chicago Urban Streamlined Tax Increment Financing Commercial Revitalization Deduction Small Business Development Centers Class C Small Fund Business Improvement Small Business Developmen Class 8 Class 6(b) Industrial Development
Special Service Area Designation The Ins Enterprise Zone Facility Bond - Small Business $mart Energy
Environmental Cleanup and Environmental -
- Commercial Development Laboratory Facilities Fund Laboratory
Industrial Revenue Bonds Industrial or Commercial Bank Participation Loan
titute for Justice Clinic Infrastructure Grants Licenses and Permits Business Loan Fund
Delegate Agency – Small Business Small – Development Development TIF Program Contractors Micro Loan Businesses Float Loan 501(c) (3 SCORE Project t Loan
16 16 16 16 16 16 14 14 14 14 14 14 13 1 13 13 13 12 12 12 12 12 12 15 15 15 15 15 15 15 11 11 3
X X X X X X X X X X X X X X X X
X X X X X X X X X X X X X X X X X X X X
X X X X X X X X X X X X X X X X X X X
Incentiv IFA Business Tax Credit Business Interest Received on Federally Tax E Cost Segregation Depreciation Adjustment Enterprise, River Edge Development Zone Domestic Production Activities Deduction Investment Tax Credit 501 ( c)(3) Equipment Finance Program Credit for Employer Social Security and Credit Social for Employer IFA Senior Participation Loan Program Manufacturer's Purchase Credit (MPC) Manufacturer's Purchase Credit Education Loan Repayment Deduction Community Employment Corporation Corporation Community Employment Commercial Revitalization Deduction Busine Pension Plan Start Up Costs Credit Pension Plan Start Up Costs Small Business Opportunity Clinic Empowerment Zone and Renewal Capital Opportunity Bond (COB) ss Start Up Cost Amortization ss Start Up Cost Work Opportunity Tax Credit IFA Industrial Revenue Bond Small Business Law Center 501( c)(3) Bond Program Section 179 Depreciation New Markets Tax Credit Disab
es Community Credit –
Business Energy led Access Credit Medicare Taxes Contribution Obligations Tax Credit Templates xempt
20 20 20 20 20 20 18 18 18 18 18 18 18 19 19 19 19 19 17 17 17 17 17 17 17
X X X X X X X X X X
X X X X X X X X X X X X X X X X X X
X X X X X X X X X X X X X
Business Incentive Expo Resource Guide WEBSITE ADDITIONAL INCENTIVE DESCRIPTION ADDRESS CONTACT INFORMATION I. FEDERAL BUSINESS INCENTIVES A. FEDERAL TAX INCENTIVE PROGRAMS
Private employers with 15 or more employees are prohibited from discriminating against qualified individuals with a disability. Employers must provide reasonable accommodation, and this tax An eligible small business is credit is intended to help small businesses that might experience a person with gross receipts Disabled Access Tax undue hardship on the operation of the employer's business by http://www.irs.gov/pub/irs- that did not exceed $1 million Credit making the accommodations. pdf/f8826.pdf in the preceding tax year
Businesses can take an annual tax credit of up to $3,000 for each Empowerment Zone employee who lives and works for the employer in an http://www.irs.gov/pub/irs- Employment Credit Empowerment Zone. pdf/p954.pdf (312) 566-4912
EZ businesses can take an increase in deduction up to $35,000 of Increased 179 the cost of eligible equipment purchases, subject to certain http://www.irs.gov/pub/irs- Deduction limitations, in the placed-in-service year of the equipment in an EZ. pdf/p954.pdf (312) 566-4912
Available to individual and corporate investors making equity http://www.cdfifund.gov/what_w New Markets Tax investments in designated Community Development Entities e_do/programs_id.asp?programI Credit (CDEs) to provide investments in low-income communities. D=5 (312) 566-4912
Investors other than corporations that hold qualified small business Partial Gross Income stock in a qualified EZ business for more than 5 years can sell the Exclusion of Capital stock and exclude from gross income 60% of the capital gains from http://www.irs.gov/pub/irs- Gains that sale. pdf/p954.pdf (312) 566-4912
Governmental Partnership for Economic Development WEBSITE ADDITIONAL INCENTIVE DESCRIPTION ADDRESS CONTACT INFORMATION
Tax incentives are available to businesses of all sizes in Renewal Communities to encourage businesses to open, expand, and hire local residents. Incentives include employment credits, a 0% tax on Renewal Community capital gains, accelerated depreciation through Commercial Tax Incentives Revitalization Deductions, and others. www.hud.gov/cr/
Work Opportunity Businesses can take a tax credit of up to $2,400 for each 18-39 year- http://www.irs.gov/pub/irs- Tax Credits (WOTC) old new employee who lives in an EZ. pdf/p954.pdf (312) 566-4912 B. FEDERAL LOAN PROGRAMS
Provides communities with a source of financing for economic http://www.hud.gov/offices/cpd/c Section 108 Loan development, housing rehabilitation, public facilities, and large- ommunitydevelopment/programs Guarantees scale physical development projects. /108/index.cfm (312) 566-4912 C. FEDERAL BOND PROGRAMS
Enterprise Zone State or local governments are able to issue bonds in Zest at lower http://www.irs.gov/pub/irs- Facility Bonds interest rates to finance construction costs. pdf/p954.pdf (312) 566-4912
Qualified Zone State or local governments are able to issue bonds in EZs at no http://www.irs.gov/pub/irs- Academy Bonds interest to finance public school programs. pdf/p954.pdf (312) 566-4912 D. FEDERAL RESOURCES & TECHNICAL ASSISTANCE PROGRAMS
IRS Small Business Provides information about business tax laws and obtaining Division Employer ID numbers (EINs). www.irs.gov/businesses/small/
U.S. Patent and Trademark Office Provides information about patents and trademark filing. www.uspto.gov
U.S. Small Business Provides tools for business owners looking to start a business, Administration obtain financing, or manage operations. www.sba.gov/
Governmental Partnership for Economic Development WEBSITE ADDITIONAL INCENTIVE DESCRIPTION ADDRESS CONTACT INFORMATION II. ILLINOIS STATE BUSINESS INCENTIVES A. ILLINOIS TAX INCENTIVE PROGRAMS Economic
Development For A A tax credit program to encourage companies to locate or expand http://www.illinoisbiz.biz/dceo/B Growing Economy operations in Illinois where there is active consideration of a ureaus/Business_Development/T (EDGE) competing location in another state. ax+Assistance/EDGE.htm (217) 524-8449
Available to companies that propose to make a substantial capital investment in operations and will create or retain above average High Impact number of jobs. Businesses may qualify for investment tax credits, http://www.illinoisbiz.biz/dceo/B Businesses located within Business Program state sales tax exemption on building materials, utilities, equipment ureaus/Business_Development/T Enterprise Zones are not (HIB) purchases, repair and replacement parts. ax+Assistance/HIB.htm (217) 785-6145 eligible for this program.
http://www.illinoisbiz.biz/dceo/B ureaus/Business_Development/T Illinois Enterprise Tax incentives available to businesses located or expanding in an ax+Assistance/Enterprise- (217) 285-5145 Or Zone Program Illinois enterprise zone. Zone.htm (217) 557-1821 B. ILLINOIS LOAN PROGRAMS
The 504 Program cannot be The 504 loan program is available to small businesses and provides http://www.sba.gov/services/fina used for working capital or growing businesses with long-term, fixed-rate financing for major ncialassistance/sbaloantopics/cdc inventory, consolidating or 504 Loan Program fixed assets, including land and buildings. 504/index.html (312) 353-4528 repaying dept, or refinancing
Serves as the SBA's primary business loan program to help http://www.sba.gov/services/fina qualified small businesses obtain financing when they might not be ncialassistance/sbaloantopics/7a/ 7(a) Loan Guaranty eligible for business loans through normal lending channels. index.html (312) 353-4528
Governmental Partnership for Economic Development WEBSITE ADDITIONAL INCENTIVE DESCRIPTION ADDRESS CONTACT INFORMATION
http://www.treasurer.il.gov/progr Banking Intended to encourage banking institutions to open or expand a ams/opportunity- Development branch in a low or moderate income community so that the illinois/community-development- Erick Nickerson Program community's credit and development needs are met. loans/bank-development.aspx (312) 814-1245
Finance seasonal working capital needs, cost to perform; construction costs, advances against existing inventory and receivables, consolidation of short-term debts. Short- term/Revolving Lines of Credit; Seasonal Contract Builders www.sba.gov/financing/loanprog/ Maximum amount of $2 CAPLines Standard/Small Asset-Based caplines.html million
Community Service Long-term, fixed rate financing to new or expanding small http://www.illinoisbiz.biz/dceo/B Block Grant Loan businesses in exchange for job creating and employment for low- ureaus/Business_Development/L Program income individuals oan+Programs/biz-csbg.htm (217) 785-6156
Financial assistance for small businesses located in a low or www.sba.gov/services/financialas moderate income urban or rural area, or owned by a minority, sistance/7aLenderprogrms/comex Community Express woman, or a veteran. press/index.html (312) 353-4528 Maximum loan of $250,000
Development
Corporation Loans to provide financial assistance to small businesses that will http://www.chicago- Participation Loan employ Illinois workers in the region served by that Development cook.org/badproginfo.asp?L_ID= Program Corporation. 329& (312) 814-9303
Michael Smith, (312) Available to businesses to acquire land, purchase equipment, http://www.treasurer.il.gov/progr 814-8953 provide working capital, buy inventory, or make capital ams/employ-illinois/business- employillinois@treas Employ Illinois improvements that will lead to job creation. owners.aspx urer.state.il.us
Enterprise Zone Available for any for-profit small business in Illinois with fewer http://www.illinoisbiz.biz/dceo/B Participation Loan than 500 employees. Provides subordinated financing to companies ureaus/Business_Development/L Program (EZ/PLP) located in or expanding in an Illinois Enterprise Zone oan+Programs/ezp-plp.htm (217) 782-3891
Governmental Partnership for Economic Development WEBSITE ADDITIONAL INCENTIVE DESCRIPTION ADDRESS CONTACT INFORMATION
www.sba.gov/financing/lendinves SBA Express SBA Express is available for loans up to $350,000 t/sbaexpress.html
Export Working www.sba.gov/financing/loanprog/ Maximum amount is $2 Capital Program Short-term working capital loans for exporters ewcp.html million
http://www.treasurer.il.gov/progr ams/opportunity- Hospital Low-interest loans to hospitals to cover costs of improvements, illinois/community-development- Patrick Conlon, (312) Development including expansion construction or new equipment. loans/hospital-development.aspx 914-1244
Encourages lending institutions to make loans to new and small businesses that do not qualify for conventional financing. This Illinois Capital reserve fund enables the financial institution to make loans beyond Access Program its conventional risk threshold and is available to draw upon to (CAP) recover losses or loans under the program. www.sba.gov (217) 782-3891
Loans for the acquisition of long-term fixed assets or the refinancing of dept for small businesses engaged/preparing to International Trade engage in international trade/adversely affected by competition www.sba.gov/financing/loanprog/ Maximum amount is $2 Loan Program from imports. tradeloans.html million
Manufacturing Provides manufactures with access to adequate and affordable http://www.illinoisbiz.biz/dceo/B Modernization Loan financing for upgrading and modernizing their manufacturing ureaus/Business_Development/L Program equipment and operations. oan+Programs/mmlp.htm (217) 782-3891
http://www.sba.gov/services/fina Maximum amount is Provides very small loans to start-up, newly established, or growing ncialassistance/sbaloantopics/mic $35,000; Average loan size is SBA Micro Loans small businesses. roloans/index.html (312) 353-4528 about $13,000
Governmental Partnership for Economic Development WEBSITE ADDITIONAL INCENTIVE DESCRIPTION ADDRESS CONTACT INFORMATION
Minority, Women, Loans available for up to 50% and Disabled Eligible businesses must employ less than 500 persons and be at http://www.illinoisbiz.biz/dceo/B of the total project, subject to Participation Loan least 51% owned and operated by one or more minority, women, or ureaus/Business_Development/L Gregg Fahey, (312) a minimum of $10,000 and a Program disabled persons. oan+Programs/mwd.htm 814-2308 maximum of $50,000
http://www.treasurer.il.gov/progr ams/opportunity- Low-interest financing for Illinois organization for real estate illinois/opportunity%20Illinois.as Patrick Conlon, (312) Opportunity Illinois acquisition, construction, or equipment px 814-1244
Assists prospective borrowers in developing viable loan application packages and securing loans. Program targets low income http://www.sba.gov/services/fina Prequalification borrowers, disabled business owners, new and emerging ncialassistance/sbaloantopics/pre Program businesses, veterans, exports, rural and specialized industries. qualification/index.html (312) 353-4528
Small businesses must be owned and controlled by one or more of the following groups: veteran, active duty military, reservist, or National Guard member or a spouse of any of these groups, or a www.sba.gov/services/financialas widowed spouse of a service member or veteran who died during sistance/7alenderprograms/pe/in Patriot Express service or of a service-connected disability. dex.html Maximum of $500,000
Business loans up to 25% of the total amount of a project Works through banks and other conventional lenders to provide http://www.illinoisbiz.biz/dceo/B but not available for less than Participation Loan subordinated financial assistance to small businesses that employ ureaus/Business_Development/L $10,000, nor more than Program Illinois workers. oan+Programs/plp.htm (217) 782-3891 $750,000
http://www.illinoisbiz.biz/dceo/B Port District Designed to facilitate and enhance the utilization of Illinois' ureaus/Business_Development/L Revolving Loan navigable waterways and the development of inland intermodal oan+Programs/Port+District+Loa Program freight facilities. n+Program.htm (217) 782-3891
Governmental Partnership for Economic Development WEBSITE ADDITIONAL INCENTIVE DESCRIPTION ADDRESS CONTACT INFORMATION
Available for businesses with 500 or fewer employees having Revolving Line of seasonal or variable working capital demands. A RLOC allows a http://www.illinoisbiz.biz/dceo/B Credit Program business to borrow money to meet the demand for its ureaus/Business_Development/L (RLOC) product/service sales and repay the loan from sales revenues. oan+Programs/rloc.htm (217) 782-3891
Rural Micro- Available participation loan for businesses that employ 5 or fewer http://www.illinoisbiz.biz/dceo/B Business full-time employees and is based on the production, processing, or ureaus/Business_Development/L Participation Loan marketing of agricultural products, forest products, cottage and oan+Programs/rural+micro+bus. Program craft products, or tourism. htm (217) 782-3891 C. ILLINOIS BOND PROGRAMS
Provides Illinois' minority and women contractors with technical http://www.chicago- Security Bond assistance in obtaining bid, performance, and payment bonds for cook.org/badproginfo.asp?L_ID= Guaranty Program government, public utility and private contracts. 329& (312) 524-0165 D. ILLINOIS TIF PROGRAMS
Local units of government may designate areas within their http://www.illinoisbiz.biz/dceo/B Tax Increment jurisdiction as TIF districts to be used to spur economic growth by ureaus/Business_Development/T Financing dedicating sales tax revenues and additional property tax revenues. ax+Assistance/TIF.htm (217) 785-6145 E. ILLINOIS GRANT PROGRAMS Kim Janssen, Provides grants to persons and agribusinesses in Illinois to develop 866-452-4741 projects that enhance the value of agricultural products or expand http://www.agr.state.il.us/Grants [email protected]. AgriFIRST agribusiness in Illinois /AgriFIRST/AgriFirst.html us
Business Provides grants to units of local government for public improvements on behalf of businesses undertaking a major Development Public expansion or relocation project. Infrastructure improvements must http://www.illinoisbiz.biz/dceo/B Infrastructure be made for public benefit on public property and must directly ureaus/Business_Development/G Program (BDPIP) result in the creation or retention of private sector jobs. rants/bdpip.htm (217) 785-6193
Governmental Partnership for Economic Development WEBSITE ADDITIONAL INCENTIVE DESCRIPTION ADDRESS CONTACT INFORMATION
Community Available to local Illinois governments to assist in financing Development economic development projects, public facilities, and housing http://www.commerce.state.il.us/ Local governments must Assistance Program rehabilitation. The program is intended to create job opportunities dceo/Bureaus/Community_Devel have populations of 50,000 (CDAP) to low-to moderate income individuals. opment/Grants/CDAP.htm (217) 785-6142 or less
Employer Training Investment Program State-funded training or skill-upgrading assistance for Illinois (ETIP)/ Large companies with 250 or more full-time employees. Available to http://www.illinoisbiz.biz/dceo/B Company individual companies, multi-company efforts, and intermediary ureaus/Technology/Technology+ Component (LCC) organizations offering company training. Grants+Programs/20-ETIP.htm (217) 785-6219
http://www.illinoisbiz.biz/dceo/B ureaus/Technology/Technology+ High Technology Grants to employers from high technology industries and local Grants+Programs/3- School-To-Work educators to prepare Illinois students for the transition from school High+Technology+School-To- John Barr, Program to high skilled, high paying jobs in the new economy. Work.htm (312) 824-2559
Awards grants to help governmental, not-for-profit organizations or for-profit businesses establish new recycling collection and http://www.illinoisbiz.biz/com/re Illinois Recycling processing programs or expand existing programs for traditional cycling/com_program_il_use.htm Grants Program recyclables. l (217) 785-1997
Job Training and The program awards grants to non-profit community-based organizations that work with small businesses to train their Economic workers. Assists low-wage, low-skilled workers to advance in their http://www.chicago- Development Grant careers, and helps unemployed, disadvantaged people learn the cook.org/badproginfo.asp?L_ID= Program skills necessary to secure employment. 329& (217) 785-6219
Available to businesses undertaking a major expansion or Large Business relocation project that will result in substantial private investment http://www.illinoisbiz.biz/dceo/B Development and the creation and/or retention of 300 or more full-time jobs in ureaus/Technology/Technology+ Program (LBDP) Illinois. Grants+Programs/20-ETIP.htm (217) 524-8449
Governmental Partnership for Economic Development WEBSITE ADDITIONAL INCENTIVE DESCRIPTION ADDRESS CONTACT INFORMATION
Matching grants for modernization projects that divert materials Mike Motor, Recycling Expansion from landfills while improving the competitiveness of Illinois firms. http://www.illinoisbiz.biz/dceo/B (217) 524-0933 and Modernization REM projects can include source and waste reduction, recycling ureaus/Energy_Recycling/Recycli michael.motor@illino (REM) Program and reuse activities. ng/Grants/REM_Program.htm is.gov F. ILLINOIS RESOURCES & TECHNICAL ASSISTANCE PROGRAMS
Social disadvantage is defined as individuals who have been subjected to racial Provides various forms of assistance (Management and technical or ethnic prejudice or 8(a) Business assistance, financial assistance, government contracting and cultural bias because of their advocacy support) to foster the growth and development of identity as a member of Development businesses owned by socially and economically disadvantaged group without regard to their Program individuals. www.sba.gov/8abd/ individual capabilities.
www.commerce.state.il.us/dceo/B ureaus/Entrepreneurship+and+S Entrepreneurship Provides valuable resources for starting a business including one- mall+Business/SmallBusinessDev Network on-one business counseling and business plan development elopmentCenters.htm (800)252-2923
www.commerce.state.il.us/dceo/B Regional hubs for coordinating all small business development, ureaus/Entrepreneurship+and+S Entrepreneurship entrepreneurship training and entrepreneurial development mall+Business/SmallBusinessDev Centers activity in Illinois. elopmentCenters.htm (800)252-2923
http://www.commerce.state.il.us/ First-Stop Business Provides individuals and businesses with information to guide dceo/Bureaus/Entrepreneurship+ Information Center them through the state permitting, licensing, and regulatory and+Small+Business/SmallBusin of Illinois processes. essDevelopmentCenters.htm 800-252-2923
Illinois Business and http://www.illinoisbiz.biz/dceo/B Industry Data Center A network of 27 local and regional affiliates that work to help ureaus/Entrepreneurship+and+S (BIDC) entrepreneurs and small businesses easily access statistical data. mall+Business/Resources/ (217) 785-7545
Governmental Partnership for Economic Development WEBSITE ADDITIONAL INCENTIVE DESCRIPTION ADDRESS CONTACT INFORMATION
The Illinois CAP program is designed to encourage financial institutions to make loans to small and new businesses that do not qualify under conventional lending policies. CAP is a form of loan www.illinoisbiz.biz/dceo/Bureaus Illinois Capital portfolio insurance that provides additional reserve coverage to the /Business_Development/Loan+Pr Access Program lender on loan defaults. ograms/ (217) 782-3891
Illinois Small
Business Provides free and confidential compliance assistance to help small http://www.commerce.state.il.us/ Environmental businesses understand their regulatory requirements under the dceo/Bureaus/Entrepreneurship+ Assistance Program Clean Air Act Amendments. and+Small+Business/ 800-252-3998
The On-Site Safety and Health Consultation Service work to identify safety and health hazards in business and industry; supply Industrial Services recommendations and alternatives to reduce or eliminate those A fee is charged for many of Program hazards; and assess safety and health programs. www.illinoisosha.com (217) 524-0382 the reports
Provides detailed information on labor force/employment rates; http://www.ildceo.net/dceo/Bure DCEO supports 50% of the Labor Market industry, occupation and employment trends; and wages and aus/Entrepreneurship+and+Small cost for these coaching Information commuting patterns. +business (217) 782-0527 services
The program helps firms identify best practices in energy http://www.ildceo.net/dceo/Bure Manufacturing management that can be rapidly incorporated, then moves to aus/Energy_Recycling/Energy/En Energy Efficiency coaching services for implementation of the identified energy ergy+Efficiency/meep_program.h Program (MEEP) management, operations, or maintenance practices. tm (217) 785-0201
Assists small and mid-size manufacturers to adopt and utilize new Manufacturing technologies, stressing continuous improvement of business practices to help firms become more competitive in the global Extension economy. Provides smaller manufacturers with access to http://www.illinoisbiz.biz/dceo/B Partnership of manufacturing, technology and modernization services at a ureaus/Entrepreneurship+and+S Illinois reasonable cost. mall+Business/ (312) 814-8428
Governmental Partnership for Economic Development WEBSITE ADDITIONAL INCENTIVE DESCRIPTION ADDRESS CONTACT INFORMATION
Assistance to women, minorities, small businesses and related professional associations to help track programs. Provides Minority, Women information, referral, and government contracting assistance and http://www.ildceo.net/dceo/Bure and Small Business serves as an information conduit to business resources throughout aus/Business_Development/Loan Advocacy the state. +Programs/ (312) 814-8841
Assist existing Illinois companies that are interested in doing business with the government. The goal is to provide access to government contracting opportunities for companies that may, or http://www.commerce.state.il.us/ may not, be new to this market. Assistance with bid applications, dceo/Bureaus/Entrepreneurship+ Procurement targeted contracting opportunities, bar code and packaging and+Small+Business/Illinois+Ent Technical Assistance information, government standards and specifications, quality repreneurship+Network+Director Centers (PTAC) assistance guidelines, and training opportunities. y/IEND_northeast.htm
Renewable Fuels Works with Illinois industrial and agricultural organizations to Research, actively promote and expand the use of ethanol and biodiesel as clean, renewable transportation fuels. Includes support for the http://www.illinoisbiz.biz/dceo/B Development and development of business plans, engineering drawings, permit ureaus/Energy_Recycling/Energy Demonstration applications, and other professional costs associated with the /Energy+Efficiency/sbse_progra Program development of new biofuels production facilities. m.htm (217) 785-3969 Service-Disabled Veteran-owned Available for small businesses owned and controlled by service- Stephen Konkle, (312) Small Business disabled veterans. www.sba.gov/VETS/index.html 886-4208
Through cooperation with the SBA, SBDCs meet the needs of small Small Business businesses and provide help with development of business plans, Development manufacturing assistance, financial packaging assistance, Centers (SBDC) contracting assistance and international trade assistance. www.sba.gov/SBDC (312) 494-6712
Designed to provide Illinois small businesses with a variety of support to help reduce the cost of doing business through efficiency improvements, including an analysis of the energy costs of a Small Business traditional building design and recommends energy efficiency http://www.chicago- $mart Energy improvements and an analysis of the return on investment of those cook.org/badproginfo.asp?L_ID= (SB$E) improvements. 329& (217) 785-0164
Governmental Partnership for Economic Development WEBSITE ADDITIONAL INCENTIVE DESCRIPTION ADDRESS CONTACT INFORMATION III. COOK COUNTY BUSINESS INCENTIVES A. COOK COUNTY TAX INCENTIVE PROGRAMS
Class 6(b) - Sheryl Stewart- Industrial Up to 50% reduction in manufacturing, warehousing or Caldwell, (312) Development distribution company's total property tax bill for 12 years. www.chicago-cook.org 603-1062
Class C -
Environmental Sheryl Stewart- Cleanup and Reduced property tax rate on commercial and industrial properties Caldwell, (312) Development that have substantial environmental contamination. www.chicago-cook.org 603-1062
Class 7a and 7b - Real estate tax incentives for commercial projects in areas Sheryl Stewart- Commercial designated as Redevelopment Areas, Empowerment Zones, or Caldwell, (312) Development Federal Enterprise Zones in the last 10 years. www.chicago-cook.org 603-1062
Class 8 - Industrial Sheryl Stewart- or Commercial Reduced property tax rates on commercial and industrial projects Caldwell, (312) Development in areas experiencing severe economic depression. www.chicago-cook.org 603-1062
Cook County http://www.chicago- Enterprise Zone Tax incentives available to businesses located or expanding in an cook.org/badproginfo.asp?L_ID= Program Illinois enterprise zone. 78& (312) 603-1070 B. COOK COUNTY LOAN PROGRAMS
http://www.chicago- Low-interest loans from $25,000 to $300,000. Low- and moderate- cook.org/badproginfo.asp?L_ID= Ellisa Johnson, Business Loan Fund income persons must fill a minimum of 51% of jobs. 76& (312) 603-1004
Governmental Partnership for Economic Development WEBSITE ADDITIONAL INCENTIVE DESCRIPTION ADDRESS CONTACT INFORMATION C. COOK COUNTY BOND PROGRAMS
http://www.chicago- Industrial Revenue Below market financing for industrial expansion. Projects can cook.org/badproginfo.asp?L_ID= Gwen Thomas, Bonds range from $1 million to $10 million 79& (312) 603-5331 D. COOK COUNTY GRANT PROGRAMS
http://www.chicago- Made available through Infrastructure Municipalities request grants for public improvements to support cook.org/badproginfo.asp?L_ID= Ellisa Johnson, Community Development Grants private development. 74& (312) 603-1004 Block Grant Funding IV. CITY OF CHICAGO BUSINESS INCENTIVES A. CHICAGO TAX INCENTIVE PROGRAMS
An Enterprise Zone is designated by the City of Chicago to receive tax incentives that stimulate economic activity. Incentives include: sales tax exemption, investment tax credits, jobs tax credit, machinery and equipment sales tax exemption, utility tax City of Chicago exemption, Illinois gas use tax exemption, real estate transaction Enterprise Zone tax exemption, income tax deduction for financial institutions, and Program corporate contribution deduction. http://egov.cityofchicago.org/dpd (312) 744-4190
A business can elect either a Enables a for-profit business that constructs or rehabilitates deduction of 50% of QREs commercial property in a Renewal Community to deduct a portion for any one project in the of the costs of acquisition and rehabilitation over a shorter period year the building is placed Commercial of time than allowed under the standard depreciation rules. The into service OR can deduct Revitalization amount of the deduction is based on qualifying revitalization http://www.chiventures.org/finan 100% of QREs pro rated over Deduction (CRD) expenditures (QREs). cial/crd/index.shtml ten years.
A mechanism for funding services and programs within contiguous Special Service Area industrial, commercial, and residential areas through localized (SSA) Designation property tax levies. http://egov.cityofchicago.org/dpd (312) 744-8356
Governmental Partnership for Economic Development WEBSITE ADDITIONAL INCENTIVE DESCRIPTION ADDRESS CONTACT INFORMATION B. CHICAGO LOAN PROGRAMS
Loans to businesses for projects that create jobs. Funds can be used Bank Participation for financing new construction, renovation, and acquisition of fixed Loan Program assets. http://egov.cityofchicago.org/dpd (312) 744-4190
Made available through Float Loan Program Used to cover project costs of new construction, building Community Development (CDBG) renovation, and acquisition of fixed assets. http://egov.cityofchicago.org/dpd (312) 744-4190 Block Grant Funding
Linked Deposit Small short-term loans or lines of credit are offered by banks to businesses that may not otherwise be able to secure such loans. Program - Small Offers financial assistance to 1). Emerging businesses in operation Business Assistance less than three years, 2). Minority/women-owned business, and 3). http://www.chicagocitytreasurer.c Program Standard small businesses in operation for at least three years om/LinkedDepositProgram.html (312) 774-3365
Linked Deposit The Contractors Assistance Program - Program is not limited to Contractors Offers financial assistance to support small contracting firms which http://www.chicagocitytreasurer.c contracts on City of Chicago Assistance Program have historically struggled to receive loans. om/LinkedDepositProgram.html (312) 774-3365 Projects.
Available to very small businesses that do not have access to conventional loans. Businesses must be working to create or retain Micro Loan Program low- or moderate-income jobs for Chicago residents. http://egov.cityofchicago.org/dpd (312) 774-4190
Provides small businesses, operating in the City of Chicago and Small Business with revenues below $5 million, with needed capital to grow their http://www.chiventures.org/finan Between $25,000 and Development Loan business. cial/loans/#cityloan (773) 822-0320 $250,000
Governmental Partnership for Economic Development WEBSITE ADDITIONAL INCENTIVE DESCRIPTION ADDRESS CONTACT INFORMATION C. CHICAGO TIF PROGRAMS
Promotes the growth of second-stage or "graduate" technology firms by providing grants to help construct lab space. The program Laboratory Facilities uses TIF revenues to fund up to 25% of eligible base lab construction costs. http://egov.cityofchicago.org/dpd (312) 744-8356 Fund (LFF) Residential property, residential components of Small Business Available to owners of commercial and industrial properties within mixed-use buildings, and Improvement Fund specific TIF districts to help repair or remodel their facilities for property leased to fast-food (SBIF) their own business or on behalf of tenants. http://egov.cityofchicago.org/dpd (312) 744-4190 chains are not eligible
Expedited TIF assistance for small- and medium-sized Streamlined Tax improvements to industrial, commercial, retail, or residential Increment Financing mixed-use properties in city TIF districts. http://egov.cityofchicago.org/dpd (312) 744-4190
Available to businesses investing in parts of the city that are blighted or in danger of becoming blighted. Funds are usually in conjunction with private development projects to build and repair roads and infrastructure, clean polluted land and put vacant TIF Program properties back to productive use. http://egov.cityofchicago.org/dpd (312) 744--0606 D. CHICAGO BOND PROGRAMS
Available to any private development, nonprofit organization, or individual business purchasing or rehabilitating buildings, 501(c)(3) equipment and land. http://egov.cityofchicago.org/dpd (312) 744-4190
IDBs are issued by the City of Chicago and lends their proceeds to manufacturing companies to finance qualified projects that involve City of Chicago the acquisition of fixed assets such as land, buildings, and Industrial Revenue equipment. IDB proceeds may also be used for new construction or Bonds renovation. http://egov.cityofchicago.org/dpd (312) 744-4190
EZ Bonds are used to finance qualified commercial or Enterprise Zone manufacturing businesses located in Empowerment Zones to Facility Bond finance buildings, equipment, and land. http://egov.cityofchicago.org/dpd (312) 744-4190
Governmental Partnership for Economic Development WEBSITE ADDITIONAL INCENTIVE DESCRIPTION ADDRESS CONTACT INFORMATION E. CITY OF CHICAGO RESOURCES & TECHNICAL ASSISTANCE PROGRAMS Chicago Urban League's Project Offers programs in Entrepreneurship, Workforce Diversity, NEXT Commercial Real Estate Development and Education and Advocacy www.thechicagourbanleague.org
Community Provides transactional legal services to community-based Economic organizations working in the areas of housing and community and Development Law economic development, and to entrepreneurs creating minority- Project owned businesses in disadvantaged communities www.clccrul.org
The DPD’s Delegate Agency Program assists delegate agencies to invigorate neighborhoods, create and retain local jobs and improve the quality of life for the business community and residents. Department of Delegate agencies include Chambers of Commerce, Development Planning and Corporations, and Local Industrial Retention Initiative (LIRI) groups. Delegate Agencies activities include providing resource Development centers to local businesses, site development, one-on-one Delegate Agency assistance to businesses, and area-wide marketing and Program maintenance. www.cityofchicago.org/planning The Institute for Justice Clinic, Clinic on Free public interest transactional law firm help entry-level Entrepreneurship, businessespersons in and around Chicago exercise their right to ear University of an honest living by providing legal advice they need to get their Chicago Law School business started or to stay in business. www.clinic.ij.org
The City of Chicago's website provides important information about Licenses and Permits licenses and permits for Chicago businesses. http://egov.cityofchicago.org
Offers business counseling and workshops to entrepreneurs at SCORE every stage www.scorechicago.org
Governmental Partnership for Economic Development WEBSITE ADDITIONAL INCENTIVE DESCRIPTION ADDRESS CONTACT INFORMATION
Small Business Law Assists entrepreneurs and small business owners who are seeking Center at Loyola affordable, quality legal assistance with for-profit ventures, as well University Law as individuals who are seeking quality legal assistance, on a pro www.luc.edu/law/academics/spec School bono basis, in connection with not-for-profit organizations ial/clinic/business.html
A nonprofit, student-based clinical program affiliated with the Bluhm Legal Clinic, providing affordable legal services to Small Business entrepreneurs and nonprofit organizations focusing on job creation Opportunity Clinic and economic development in the Chicago area. www.law.northwestern.edu/sboc/
Templates are available for download including business plan Templates provided templates, feasibility checklists, profit and loss statement, projected www.chiventures.org/resources/pl by DCEO balance sheet, and cash flow worksheets anning/ V. BUSINESS TAX CREDITS
Available when a manufacturer purchases manufacturing or graphic arts machinery and equipment that qualifies for the existing sales/use tax exemptions. MPC is equal to half of the 6.25% Manufacturer's state tax that would have been owed if the purchase was not http://www.iltax.com/Businesses Purchase Credit (MPC) otherwise exempt. /TaxInformation/Sales/mpc.htm (217) 782-3336 Form ST-16
Business start-up and organizational costs are generally capital expenditures. However, you can elect to deduct up to $5,000 of IRS: (800) 829-1040 Business Start Up business start-up and $5,000 of organizational costs paid or http://www.irs.gov/publications/ Also, see IRS Cost Amortization incurred after October 22, 2004. p535/ch07.html Publication 535. IRS Form 4562. Commercial The property owner can elect to treat qualified revitalization IRS: (800) 829-1040 Revitalization expenditures chargeable to a capital account for any qualified Also, see IRS Deduction revitalization building See IRS Publication 954. Publication 954. IRS Form 4562. Community Employment A qualified CDC contribution is any transfer of cash to a selected CDC before June 30, 1999, that is available for use by the CDC for IRS: (800) 829-1040 Corporation at least 10 years and was designated by the CDC as a qualified See IRS Instructions for Form Also, see IRS Contribution Credit contribution for purposes of the credit. 8847. Publication 551. IRS Form 8847.
Governmental Partnership for Economic Development WEBSITE ADDITIONAL INCENTIVE DESCRIPTION ADDRESS CONTACT INFORMATION
Cost Segregation Cost Segregation can provide real estate purchasers with tremendous tax benefits from accelerated depreciation deductions IRS: (800) 829-1040 IRS Form 4562, in Depreciation and easier write-offs when an asset becomes obsolete, broken or http://www.aicpa.org/pubs/jofa/a Also, see IRS conjunction with IRS Form Adjustment destroyed. ug2004/soled.htm Publication 334. 3115. Credit for Employer Social Security and An employer in the food and beverage industry, may be entitled to a Medicare Taxes Paid credit for the social security and Medicare taxes you pay on your employees' tip income. The credit equals the social security http://www.irs.gov/businesses/s IRS: (800) 829-1040 on Certain Employee and Medicare taxes you paid on the tips received by the mall/industries/article/0,,id=984 Also, see IRS Tips employee. 63,00.html Publication 334. IRS Form 8846.
Internal Revenue Code Section 44 creates a disabled access credit in the case of an "eligible small business" equal to an amount of 50 http://www.workworld.org/wwwe IRS: (800) 829-1040 Disabled Access percent of the "eligible access expenditures", for the taxable year, bhelp/disabled_access_tax_credit Also, see IRS Credit that exceed $250 but does not exceed $10,250. .htm Publication 334. IRS Form 8826.
Businesses with "qualified production activities" can take a tax IRS: (800) 829-1040 Domestic Production deduction of 3% from net income. The deduction increases to 6% http://www.irs.gov/formspubs/ar Also, see IRS Activities Deduction in year 2007, and 9% in year 2010. ticle/0,,id=177957,00.html Publication 535. IRS Form 8903.
Education Loan ILLINOIS ONLY. Subtract the amount of education loan repayments made for primary care physicians who agree to practice http://www.revenue.state.il.us/Ta See IL instructions for Repayment Deduction in designated shortage areas for a specified period of time under the xForms/Incm2007/Individual/IL- Form IL-1040, (IL) terms of the Family Practice Residency Act. 1040-M-Instr.pdf Schedule M IRS Form 3468.
Empowerment Zone and Renewal Businesses located in one of these areas can claim a tax credit of up to $3,000 a year for each employee who lives in an Empowerment IRS: (800) 829-1040 Community Zone, or up to $1,500 for each employee who lives in a Renewal http://www.simtaxusa.com/empo Also, see IRS Employment Credit Community. wermentzone.html Publication 551. IRS Form 8844.
Enterprise, River Edge Development Zone, and High Impact ILLINOIS Investors may claim a subtraction for dividends received from a corporation that conducts substantially all of its http://www.revenue.state.il.us/ta IRS: (800) 829-1040 Business Dividend business operations in an Illinois enterprise or river edge xforms/Incm2007/Individual/Sch Also, see IRS IL Form 1299-C with IL- Subtraction (IL) redevelopment zone or zones. edule-1299-C-Instr.pdf Publication 334. 1040, Schedule M
Governmental Partnership for Economic Development WEBSITE ADDITIONAL INCENTIVE DESCRIPTION ADDRESS CONTACT INFORMATION
ILLINOIS ONLY. There is a subtraction for interest received Interest Received on from various securities including Illinois Housing Development Federally Tax Exempt Authority Bonds and notes; Export Development Act of 1983 Obligations Issued by bonds; Illinois Development Finance Authority bonds; College Savings bonds, Rural Bond Bank Act bonds and notes; and Illinois http://www.revenue.state.il.us/Ta See IL instructions for Certain Illinois Development Finance Authority bonds issued under the Asbestos xForms/Incm2007/Individual/IL- Form IL-1040, Development Agencies Abatement Finance Act. 1040-M-Instr.pdf Schedule M IL-1040, Schedule M
An energy credit is allowed for 10 percent of the cost of the following types of property placed in service during the year: (1) Investment Tax Credit - equipment that uses solar energy to generate electricity, heat or cool a structure, provide hot water, or provide solar process heat; or IRS: (800) 829-1040 - Business Energy Tax (2) equipment used to produce, distribute, or use geothermal http://www.finance.cch.com/text/ Also, see IRS Credit energy stored in rocks, water, or stream. c60s15d780.asp Publication 334. IRS Form 3468.
A credit of 5% to 6% per year for seven years is available. 39% is IRS: (800) 829-1040 New Markets Tax the total credit. Claim a tax credit for a qualified equity investment http://www.irs.gov/publications/ Also, see IRS Credit in a qualified community development entity (CDE). p954/ar02.html Publication 954. IRS Form 8874.
This helps small businesses offset the costs of setting up and administering a new qualified employer plan and educating http://www.penplans.com/start/c IRS: (800) 829-1040 Pension Plan Start Up employees about it. The credit is 50% of these costs, with a ontent/pdfs/downloads/Taxcredit Also, see IRS Costs Credit maximum amount of $500 per year. s.pdf Publication 560. IRS Form 8881.
Increased section 179 limits. The maximum section 179 deduction that can be elected for qualified section 179 property placed in service in 2007 has increased to $125,000 ($160,000 for IRS: (800) 829-1040 Section 179 qualified enterprise zone and qualified renewal community http://www.irs.gov/formspubs/ar Also, see IRS Depreciation property). ticle/0,,id=109879,00.html Publication 334. IRS Form 4562.
Governmental Partnership for Economic Development WEBSITE ADDITIONAL INCENTIVE DESCRIPTION ADDRESS CONTACT INFORMATION
IRS Form 5884. IRS For, 8850. Also, US DOL Employment & Training Administration Form 9061 or 9062. New employees should have already been conditionally certified as The Work Opportunity Tax Credit provides an incentive to hire belonging to a WOTC target Work Opportunity Tax individuals from targeted groups that have a particularly high http://www.doleta.gov/business/i group by a state workforce Credit unemployment rate or other special employment needs. ncentives/opptax/ IRS: (800) 829-1040 agency (SWA). VI. IFA Business Incentive Programs IFA Senior Participation Loan Provides subordinated financial assistance to small businesses that www.il- Program employ Illinois workers. fa.com/products/ind_part.html (312) 651-1300
Proceeds from IDBs are lent to manufacturing companies to finance projects that involve the acquisition of fixed assets such as IFA Industrial land, buildings, and equipment. IDB proceeds may also be used for www.il- Revenue Bond new construction or renovation. fa.com/products/ind_irb.html (312) 651-1300
Capital Opportunity Creates access to capital for small to mid-size rural and urban not- www.il- Bond (COB) for-profit hospitals in Illinois rated BBB - or below. fa.com/products/hea_capital.html (312) 651-1300 501 ( c)(3) Create tax-exempt access to capital markets for eligible 501( c)(3) www.il- Equipment Finance healthcare institutions for the acquisition of equipment and other fa.com/products/hea_501lease.ht Program fixed assets ml (312) 651-1300
Helps non-profit corporations secure low-cost, tax-exempt www.il- 501( c)(3) Bond financing for capital improvement projects through tax-exempt fa.com/producs/nfp_501bond.ht Program revenue bonds ml (312) 615-1300
Governmental Partnership for Economic Development